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Bajaj Life launches its new customer app
Bajaj Life launched of its upgraded and enhanced customer app –...
LIC denies Washington Post report, says made investments in Adani firms independently
The statement was in response to a report in The Washington Post...
NABARD subsidiary partners with IndiaFirst Life Insurance
IndiaFirst Life Insurance Company (IndiaFirst Life) announced its selection as one of the life insurers for NABFINS, a subsidiary of the National Bank for Agriculture and Rural Development (NABARD) to provide Group Credit Life Micro Insurance cover for NABFINS’...
“Shall take up with the GST Council,’ says FM Sitharaman on reduction of GST on Life and Health Insurance
Finance Minister Nirmala Sitharaman Around Rs 24,529 crore was collected from GST on health and life insurance in the last three financial years.73-74 per cent of the amount collected under the GST goes to the states,'' Nirmala Sitharaman, union finance said in the...
IIHL fails to comply with NCLT order on acquiring Reliance Capital: RCAP Administrator
The Administrator, in its affidavit informed NCLT that instead of depositing Rs 2,750 crore in the designated escrow accounts of the Committee of Creditors (CoC) in India and abroad, IndusInd International Holdings Ltd (IIHL) has deposited the money in its own...
LIC and HDFC Life relax norms for claim payments for victims of Wayanad disasters
The government has mandated the Public Sector Insurance companies and insurance regulator IRDAI has asked the insurance industry to extend all possible support to the victims of the landslide incident in Kerala Siddhartha Mohanty, CEO & MD, LIC, announced...
Hong Kong slaps AIA with record fine for anti-laundering lapses
The lapses resulted in some customers who were “politically exposed persons” failing to be picked up during the screening process. That led to delays in identifying their source of money and wealth, it added. However, no policies were sold to clients who should not...
Reliance Capital resolution: CoC warns of remedial action against Hinduja owned IIHL
Hinduja owned IIHL failed to meet the deadline of July 31. On August 1, Vistra ITCL, the trusteeship acting on behalf of the CoC, wrote a letter to IIHL that it had defaulted on the NCLT order, now lenders reserve their rights and remedies as per the resolution plan...
HDFC Life fined Rs 2 crore by IRDAI for violating regulations
The IRDAI has asked HDFC Life to review its vendor management policy and review all its existing vendors’ agreement to make necessary changes to its policy in line with the regulations on outsourcing. Mumbai: The IRDAI has slapped fine of Rs 2 crore against HDFC Life,...
Gadkari urges FM to withdraw 18 pc GST on life and medical insurance premiums
"The 18 per cent GST on medical insurance premiums is proving to be a deterrent for the growth of this segment of business which is socially necessary."Union Minister of Road Transport and Highways Nitin Gadkari New Delhi: Union Minister of Road Transport and Highways...
SCOR sees first quarterly loss since 2022
Thierry Leger,Chief Executive Officer,SCOR SE The Paris-based reinsurer posted a loss of €308 million ($333 million) in the three months through June, missing analysts’ estimates. The result was driven by a €329 million operational loss in the life and health unit...
LIC share touches a new life time high of Rs 1178
On a year to date basis, private life insurers like HDFC Life Insurance Company rose 6.31 per cent, ICICI Prudential Life Insurance Company rose 32.93 per cent and SBI Life Insurance Company rose 18.66 per cent Kumud Das Mumbai: State-run insurer Life Insurance...